So why aren’t young people signing up and millenials ditching Obama in droves? Could it be because of the NSA and ObamaCARE? Why aren’t young people signing up for ObamaCARE? Could it be because that 86% of ‘young’ people who are currently uninsured would pay less out of pocket costs for healthcare than they would if they signed up for ObamaCARE? The AAF study finds that a 30 year old male will pay health insurance premiums for the least costly insurance option to increase on average 260 percent in ObamaCARE. Females of the same age will see an average increase in their premiums of 193%
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| 6 out of 7 young Americans would pay less for healthcare by not signing up for ObamaCARE – Image credit AAF |
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American Action Forum (AAF) experts previously reported in two October 2013 studies that a 30 year old male can expect premiums for his least costly insurance option to increase on average 260 percent in 2014,[3] while a 30 year old female will see an average increase of 193 percent.[4] In this study we seek to determine whether uninsured young adult households will find purchasing insurance coverage through the exchanges to be a financially advantageous decision when compared to remaining uninsured, and paying health care costs out of pocket.
We find that after accounting for subsidies and cost-sharing, 6 out of 7 uninsured, young adult households will find it financially advantageous to forego health coverage, and instead pay the mandate penalty and cover their own health care costs. As the penalty increases, that number will drop from 86 percent in 2014 to 71 percent in 2015 and 62 percent in 2016, before ticking back up to 66 percent in 2019. In two additional analyses, using alternate assumptions explained in further detail below, the exact percentages vary, but the overall finding is constant; the majority of uninsured young adults will benefit financially from opting out of coverage in 2014.